APRIL 23, 2025 | Fellow Shareholders:
We’re proud to already share a powerful proof point of our Wattbike strategy even before we’ve formally completed the acquisition: Woodway, a U.S. distributor for performance training fitness equipment, has placed a 480-unit order that is expected to generate more than $1 million in revenue for Wattbike.
- For context: while Wattbike is already a staple in over 3,000 gyms in the UK, as slide 10 in our investor presentation highlights, its U.S. footprint is still nascent — representing a massive growth opportunity, and one that we were focused on in the acquisition strategy.
- This order signals confidence from a best-in-class distribution partner and accelerates our efforts to bring Wattbike’s elite performance training tools to more commercial customers in the U.S.
- The order comes on the heels of the launch of the Air Pro, the next generation of the best-selling elite performance training bike used globally by professional sports teams, which we expect to drive a global upgrade cycle across the many tens of thousands of earlier Air/Trainer bikes
Wattbike is more than just a connected indoor bike. It’s the preferred cycling platform for elite teams, performance centers, and military units around the world — from the NFL, NBA, MLB, NHL, and Premier League, to healthcare facilities, universities, and even special forces operations.
Its training platform is used for testing, benchmarking, injury prevention, rehab, and low-impact conditioning, with an award-winning and free-to-use app that supports both athletes and trainers.
This makes the Wattbike portfolio perfect for many audiences – and especially suitable for TRNR’s many US gyms and gym-chain customers. Those buyers are always looking for the best equipment, with proven performance outcomes – and there’s nothing in the world better than Wattbike for measuring and improving fitness performance.
We’ll have even more details on this in a future post.
For now, the important takeaway is that this 480-unit commitment from Woodway builds on our recently announced binding agreement to acquire Wattbike. It reinforces our belief that this brand has the pedigree, product, and momentum to be a breakout player in TRNR’s portfolio.
As we continue to expand our reach and diversify our product lineup, our strategy remains focused: disciplined acquisitions, durable product-market fit, and global opportunity.
With this new Wattbike order in hand, we’re executing against that plan — and moving quickly.
Stay tuned, and stay bullish!
Forward Looking Statements:
This post includes certain statements that are “forward-looking statements” for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements do not relate strictly to historical or current facts and reflect management’s assumptions, views, plans, objectives and projections about the future. Forward-looking statements generally are accompanied by words such as “believe”, “project”, “expect”, “anticipate”, “estimate”, “intend”, “strategy”, “future”, “opportunity”, “plan”, “may”, “should”, “will”, “would”, “will be”, “will continue”, “will likely result” or similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the possibility and timing of generating revenue from the Woodway order, the order being fulfilled completely, the selling of additional Wattbikes in the US or other geographies. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of the Company. Risks and uncertainties include but are not limited to: demand for our products; competition, including technological advances made by and new products released by our competitors; our ability to accurately forecast consumer demand for our products and adequately maintain our inventory; and our reliance on a limited number of suppliers and distributors for our products. A further list and descriptions of these risks, uncertainties and other factors can be found in filings with the Securities and Exchange Commission. To the extent permitted under applicable law, the Company assumes no obligation to update any forward-looking statements.